Taipei-Lawmakers across partisan lines voiced support on Saturday for Yang Chin-long (???), the deputy governor of Taiwan's central bank, to succeed the retiring governor Perng Fai-nan (???) next month.
Ruling Democratic Progressive Party Legislator Wu Ping-jui (???) was one of the lawmakers who praised the selection that has apparently been made by President Tsai Ing-wen (???) but has yet to be confirmed publicly.
Wu said the pick of Yang aims to take advantage of his experience at the central bank, where he has worked since 1989. That familiarity with the bank, Wu said, will allow Yang to get off to a running start and will be good for the institution's morale.
Echoing Wu, opposition Kuomintang (KMT) lawmaker Lai Shyh-bao (???) said Yang, who has worked with Perng for a long time, is expected to follow Perng's approach of stabilizing interest rates and the foreign exchange market.
Lai said the choice of Yang was also welcome because it steered clear of politics, and Yang himself is a good candidate and should be able to maintain the central bank's independence.
A source familiar with the matter confirmed to CNA on Saturday that Yang will be the next central bank governor amid recent speculation of the move, including a report in Saturday's Liberty Times saying Yang's appointment had been finalized internally.
Cabinet spokesman Hsu Kuo-yung (???) said on Saturday that once the decision on the candidate has been made, the information will be made public according to standard procedures.
Regardless of who becomes the next governor, the president expects the person to work well under pressure and avoid political affiliations to maintain the stability of the country's economy, according to Presidential Office spokesman Sidney Lin (???).
Yang, 64, has served as the deputy governor of the central bank since March 2008. Prior to that, he worked in the bank's Banking, Foreign Exchange and Economic Research departments, and he also headed the bank's London office from 1994 to 1997.
People First Party lawmaker Lee Hung-chun (???) expected the banking veteran to continue to use the appropriate monetary policy to support Taiwan's economy, the country's main source of soft power, at a time when ties with China are worsening and Taiwan is faced with increasing barriers in the global political arena.
Perng has navigated a relatively conservative course during his nearly 20 years as Taiwan's central bank czar, building strong foreign exchange reserves while resisting calls to intervene aggressively to keep Taiwan's currency weak to boost exports.
In August, Perng was again named among the world's top-tier central bankers by New York-based Global Finance magazine, receiving an "A" grade for a record 13th consecutive year and a 14th time during his illustrious career. Perng will step down on Feb. 25.
While presidential advisor Chen Po-chih (???) agreed with the selection of Yang, he urged Yang not to compare himself with Perng but to follow his own path in leading the bank.
Otherwise, not earning an A grade as Perng did could bother Yang and throw off his monetary policy direction, Chen said.
Source: Focus Taiwan News Channel